Property Description

The Blue Building with the distinctive fish scale siding, 1842 E. Harold Street is a six-unit East Kensington multifamily property completed in 2022 and fully occupied at market rents. Offered at $1,585,000 with tax abatement through 2033, the building provides documented income from day one and aligns well with 1031 exchange buyers seeking stable, predictable cash flow. The property is 100% occupied at market rents, generating $9,450 per month in gross income with a proven operating history since completion. This is not a lease-up opportunity. There is no vacancy story to underwrite and no pro forma guesswork- the building is stabilized, documented, and producing from day one. The unit mix includes three bi-level 2-bedroom, 2-bath units each with private roof decks; one 2-bedroom, 2-bath unit with private yard; one 1-bedroom, 1-bath unit with private yard and balcony; and one 1-bedroom, 1-bath unit with balcony. All six units feature private exterior space, in-unit washer/dryer, and central air — amenities that support strong tenant retention and long-term rent growth. Located steps from the Huntingdon Station of the Market-Frankford Line and near the growing Kensington Avenue corridor between Lehigh Avenue and Front Street, the property benefits from transit accessibility and continued commercial momentum. All zoning, licenses, leases, and operating expenses are fully documented. Profit and Loss statements and supporting financials are available for serious inquiries. In addition to its current performance, the layout and outdoor amenities present potential long-term condominium sell-off optionality, though no condo declaration has been filed. The fundamentals are already in place — stabilized, occupied, and built to keep doing exactly what it’s done since 2023: generate income.

Property Features

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